Join Brad Batesole for an in-depth discussion in this video Budgeting for direct mail, part of Offline Marketing Foundations.
- When it comes to direct mail,…you're working to identify a budget…that can deliver a return on investment.…To figure out if direct mail will be profitable,…we need to sort out how much a campaign will cost,…what our conversion rates will be,…and how much mail we need to send.…To crunch the numbers, we need a few existing data points.…The lifetime value of our customer,…or the average order value.…Our existing or anticipated conversion rate…and the response rate for direct mail.…
Let's say we have a mobile dog grooming business…and we profit, on average, $80 per sale.…We also know that our average customer…will groom their dog about six with our business.…So we have a rough lifetime value of $480 per customer.…Now I'm simplifying here, but essentially,…I can assume I'll make just shy of $500…whenever I land a new customer.…I won't make it on the first sale,…but I will make it over time.…Next, we need to know our conversion rate…or sales close rate.…
Let's say that we see that about 25%…of our customers that visit our website…
- What is offline marketing?
- How to integrate offline marketing with digital marketing
- Direct mail
- Print advertising
- TV and radio
- Guerilla marketing
Skill Level Beginner
1. Offline Marketing Overview
Deciding how much to spend4m 38s
3. Direct Mail
6. Television and Radio
Getting media mentions4m 50s
Next steps1m 12s
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